NZME Full Year Results to 31 December 2021

Wednesday 23rd February 2022

NZME Limited (NZX: NZM, ASX:NZM) (“NZME”) has announced its financial results for the full year ended 31 December 2021, reporting 5% Operating Revenue growth to $349.2 million, Statutory Net Profit After Tax (“NPAT”) of $34.4 million and Operating Earnings Before Interest Tax Depreciation and Amortisation (“Operating EBITDA”)1 of $66.0 million. Operating Earnings Per Share (“EPS”) increased to 11.9 cents per share, compared to 11.3 cents per share in 20201. NZME Chief Executive Michael Boggs says he’s proud of what the business achieved in 2021, despite the challenges of COVID-19. “As I reflect on 2021, I am very proud of what we achieved, especially in what has been a difficult and uncertain trading environment with the reintroduction of COVID-19 restrictions across the country. We grew our audience reach to 3.5 million2 across our platforms and achieved strong financial results, growing revenue across NZME’s three strategic pillars: Audio, Publishing and OneRoof. “I am also incredibly proud of the important role NZME played in keeping Kiwis in the know with the launch of The 90% Project and the business-wide #RollUpYourSleevesNZ campaign. By 16 December, 90% of the eligible population had received two doses of the vaccine, helping Kiwis stay safe against COVID-19 and go about their daily lives. We recognise the responsibility that comes with acting as a voice of record for New Zealand and we continued to use our platforms and reach to make a positive impact to our community in 2021,” he says. NZME demonstrated progress in its digital transformation, reporting a 37% increase in total digital revenue compared to the 2020 financial year. “NZME’s ability to generate advertising revenue has remained resilient against COVID-19 related headwinds in 2021, growing 13% compared to 2020 despite nationwide COVID-19 restrictions in the second half of 2021. Our commitment to putting customers first, especially through these challenging times resulted in a strong finish to the year with November and December 2021 advertising revenue exceeding 2019 levels as customers utilised NZME’s platforms to build their own brands,” says Boggs.

Comments from our readers

No comments yet

Add your comment:

Your name:
Your email:	Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

NZME Full Year Results to 31 December 2021

Comments from our readers

Add your comment:

Related News: